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Section 1: 10-Q (10-Q)

Document
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
________________________
FORM 10-Q
QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the quarterly period ended June 30, 2019
or
TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the transition period from            to            
Commission File Number: 001-35568 (Healthcare Trust of America, Inc.)
Commission File Number: 333-190916 (Healthcare Trust of America Holdings, LP)
_________________________ 
HEALTHCARE TRUST OF AMERICA, INC.
HEALTHCARE TRUST OF AMERICA HOLDINGS, LP
(Exact name of registrant as specified in its charter)
 
Maryland
(Healthcare Trust of America, Inc.)
 
 
20-4738467
 
 
Delaware
(Healthcare Trust of America Holdings, LP)
 
 
20-4738347
 
(State or other jurisdiction of incorporation or organization)
 
 
(I.R.S. Employer Identification No.)
 
16435 N. Scottsdale Road, Suite 320,
Scottsdale,
Arizona
85254
 
 
 
(480)
998-3478
 
 
 
(Address of Principal Executive Office and Zip Code)
 
 
(Registrant’s telephone number, including area code)
 
 
 
 
 
 
 
 
 
 
www.htareit.com
(Internet address)
N/A
(Former name, former address and former fiscal year, if changed since last report)
Securities registered pursuant to Section 12(b) of the Act:
Title of each class
 
Trading symbol(s)
 
Name of each exchange on which registered
Common stock, $0.01 par value
 
HTA
 
New York Stock Exchange

Indicate by check mark whether the registrant: (1) has filed all reports required to be filed by Sections 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.    
Healthcare Trust of America, Inc.
 
Yes
¨ No
Healthcare Trust of America Holdings, LP
 
Yes
¨ No
Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).    
Healthcare Trust of America, Inc.
 
Yes
¨ No
Healthcare Trust of America Holdings, LP
 
Yes
¨ No
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer”, “smaller reporting company” and “emerging growth company” in Rule 12b-2 of the Exchange Act.
Healthcare Trust of America, Inc.
 
Large accelerated filer
Accelerated filer
Non-accelerated filer
Healthcare Trust of America Holdings, LP
Large accelerated filer
Accelerated filer
 
Non-accelerated filer
Healthcare Trust of America, Inc.
Smaller reporting company
Emerging growth company
Healthcare Trust of America Holdings, LP
Smaller reporting company
Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.
Healthcare Trust of America, Inc.
Healthcare Trust of America Holdings, LP
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).    
Healthcare Trust of America, Inc.
Yes
x No
Healthcare Trust of America Holdings, LP
Yes
x No
As of July 22, 2019, there were 205,158,581 shares of Class A common stock of Healthcare Trust of America, Inc. outstanding.
 



Explanatory Note
This quarterly report combines the Quarterly Reports on Form 10-Q (“Quarterly Report”) for the quarter ended June 30, 2019, of Healthcare Trust of America, Inc. (“HTA”), a Maryland corporation, and Healthcare Trust of America Holdings, LP (“HTALP”), a Delaware limited partnership. Unless otherwise indicated or unless the context requires otherwise, all references in this Quarterly Report to “we,” “us,” “our,” “the Company” or “our Company” refer to HTA and HTALP, collectively, and all references to “common stock” shall refer to the Class A common stock of HTA.
HTA operates as a real estate investment trust (“REIT”) and is the general partner of HTALP. As of June 30, 2019, HTA owned a 98.1% partnership interest in HTALP, and other limited partners, including some of HTA’s directors, executive officers and their affiliates, owned the remaining partnership interest (including the long-term incentive plan (“LTIP” Units)) in HTALP. As the sole general partner of HTALP, HTA has the full, exclusive and complete responsibility for HTALP’s day-to-day management and control, including its compliance with the Securities and Exchange Commission (“SEC”) filing requirements.
We believe it is important to understand the few differences between HTA and HTALP in the context of how we operate as an integrated consolidated company. HTA operates as an umbrella partnership REIT structure in which HTALP and its subsidiaries hold substantially all of the assets. HTA’s only material asset is its ownership of partnership interests of HTALP. As a result, HTA does not conduct business itself, other than acting as the sole general partner of HTALP, issuing public equity from time to time and guaranteeing certain debts of HTALP. HTALP conducts the operations of the business and issues publicly-traded debt, but has no publicly-traded equity. Except for net proceeds from public equity issuances by HTA, which are generally contributed to HTALP in exchange for partnership units of HTALP, HTALP generates the capital required for the business through its operations and by direct or indirect incurrence of indebtedness or through the issuance of its partnership units (“OP Units”).
Noncontrolling interests, stockholders’ equity and partners’ capital are the primary areas of difference between the condensed consolidated financial statements of HTA and HTALP. Limited partnership units in HTALP are accounted for as partners’ capital in HTALP’s condensed consolidated balance sheets and as a noncontrolling interest reflected within equity in HTA’s condensed consolidated balance sheets. The differences between HTA’s stockholders’ equity and HTALP’s partners’ capital are due to the differences in the equity issued by HTA and HTALP, respectively.
We believe combining the Quarterly Reports of HTA and HTALP, including the notes to the condensed consolidated financial statements, into this single Quarterly Report results in the following benefits:
enhances stockholders’ understanding of HTA and HTALP by enabling stockholders to view the business as a whole in the same manner that management views and operates the business;
eliminates duplicative disclosure and provides a more streamlined and readable presentation since a substantial portion of the disclosure in this Quarterly Report applies to both HTA and HTALP; and
creates time and cost efficiencies through the preparation of a single combined Quarterly Report instead of two separate Quarterly Reports.
In order to highlight the material differences between HTA and HTALP, this Quarterly Report includes sections that separately present and discuss areas that are materially different between HTA and HTALP, including:
the condensed consolidated financial statements;
certain accompanying notes to the condensed consolidated financial statements, including Note 8 - Debt, Note 12 - Stockholders’ Equity and Partners’ Capital, Note 14 - Per Share Data of HTA, and Note 15 - Per Unit Data of HTALP;
as defined by the National Association of Real Estate Investment Trusts (“NAREIT”), the Funds From Operations (“FFO”) and Normalized FFO in Part 1, Item 2 of this Quarterly Report;
the Controls and Procedures in Part 1, Item 4 of this Quarterly Report; and
the Certifications of the Chief Executive Officer and the Chief Financial Officer included as Exhibits 31 and 32 to this Quarterly Report.
In the sections of this Quarterly Report that combine disclosure for HTA and HTALP, this Quarterly Report refers to actions or holdings as being actions or holdings of the Company. Although HTALP (directly or indirectly through one of its subsidiaries) is generally the entity that enters into contracts, holds assets and issues or incurs debt, management believes this presentation is appropriate for the reasons set forth above and because the business of the Company is a single integrated enterprise operated through HTALP.

2



HEALTHCARE TRUST OF AMERICA, INC. AND
HEALTHCARE TRUST OF AMERICA HOLDINGS, LP
TABLE OF CONTENTS
 
 
 
Page
Healthcare Trust of America, Inc.
 
 
 
 
 
 
Healthcare Trust of America Holdings, LP
 
 
 
 
 
 
Notes for Healthcare Trust of America, Inc. and Healthcare Trust of America Holdings, LP
 
 
 
 
 
 
 
 






3


Table of Contents

PART I - FINANCIAL INFORMATION
Item 1. Financial Statements (Unaudited)
HEALTHCARE TRUST OF AMERICA, INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
(In thousands, except for share and per share data)
(Unaudited)
 
 
June 30, 2019
 
December 31, 2018
ASSETS
 
 
 
 
Real estate investments:
 
 
 
 
Land
 
$
492,770

 
$
481,871

Building and improvements
 
5,886,129

 
5,787,152

Lease intangibles
 
598,022

 
599,864

Construction in progress
 
8,907

 
4,903

 
 
6,985,828

 
6,873,790

Accumulated depreciation and amortization
 
(1,324,281
)
 
(1,208,169
)
Real estate investments, net
 
5,661,547

 
5,665,621

Investment in unconsolidated joint venture
 
66,731

 
67,172

Cash and cash equivalents
 
23,194

 
126,221

Restricted cash
 
5,950

 
7,309

Receivables and other assets, net
 
225,681

 
223,415

Right-of-use assets, net
 
245,495

 

Other intangibles, net
 
11,877

 
98,738

Total assets
 
$
6,240,475

 
$
6,188,476

LIABILITIES AND EQUITY
 
 
 
 
Liabilities:
 
 
 
 
Debt
 
$
2,567,008

 
$
2,541,232

Accounts payable and accrued liabilities
 
159,853

 
185,073

Security deposits, prepaid rent and other liabilities
 
41,241

 
59,567

Lease liabilities
 
200,842

 

Intangible liabilities, net
 
40,529

 
61,146

Total liabilities
 
3,009,473

 
2,847,018

Commitments and contingencies
 

 

Redeemable noncontrolling interests
 

 
6,544

Equity:
 
 
 
 
Preferred stock, $0.01 par value; 200,000,000 shares authorized; none issued and outstanding
 

 

Class A common stock, $0.01 par value; 1,000,000,000 shares authorized; 205,117,620 and 205,267,349 shares issued and outstanding as of June 30, 2019 and December 31, 2018, respectively
 
2,051

 
2,053

Additional paid-in capital
 
4,521,103

 
4,525,969

Accumulated other comprehensive (loss) income
 
(449
)
 
307

Cumulative dividends in excess of earnings
 
(1,369,763
)
 
(1,272,305
)
Total stockholders’ equity
 
3,152,942

 
3,256,024

Noncontrolling interests
 
78,060

 
78,890

Total equity
 
3,231,002

 
3,334,914

Total liabilities and equity
 
$
6,240,475

 
$
6,188,476

 
 
 
 
 
The accompanying notes are an integral part of these condensed consolidated financial statements.

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Table of Contents

HEALTHCARE TRUST OF AMERICA, INC.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(In thousands, except for per share data)
(Unaudited)
 
Three Months Ended June 30,
 
Six Months Ended June 30,
 
2019
 
2018
 
2019
 
2018
Revenues:
 
 
 
 
 
 
 
Rental income
$
171,609

 
$
173,221

 
$
340,484

 
$
348,788

Interest and other operating income
148

 
111

 
239

 
205

Total revenues
171,757

 
173,332

 
340,723

 
348,993

Expenses:
 
 
 
 
 
 
 
Rental
52,938

 
53,553

 
104,406

 
109,575

General and administrative
10,079

 
8,725

 
21,369

 
17,511

Transaction
296

 
396

 
336

 
587

Depreciation and amortization
68,429

 
69,104

 
137,910

 
139,496

Interest expense
24,006

 
26,305

 
47,976

 
52,558

Impairment

 

 

 
4,606

Total expenses
155,748

 
158,083

 
311,997

 
324,333

Loss on sale of real estate, net

 

 
(37
)
 

Income from unconsolidated joint venture
548

 
403

 
1,034

 
973

Other income
41

 
5

 
576

 
40

Net income
$
16,598

 
$
15,657

 
$
30,299

 
$
25,673

Net income attributable to noncontrolling interests (1) 
(339
)
 
(311
)
 
(600
)
 
(525
)
Net income attributable to common stockholders
$
16,259

 
$
15,346

 
$
29,699

 
$
25,148

Earnings per common share - basic:
 
 
 
 
 
 
 
Net income attributable to common stockholders
$
0.08

 
$
0.07

 
$
0.14

 
$
0.12

Earnings per common share - diluted:
 
 
 
 
 
 
 
Net income attributable to common stockholders
$
0.08

 
$
0.07

 
$
0.14

 
$
0.12

Weighted average common shares outstanding:
 
 
 
 
 
 
 
Basic
205,108

 
205,241

 
205,094

 
205,155

Diluted
209,005

 
209,259

 
209,002

 
209,218

 
 
 
 
 
 
 
 
(1) Includes amounts attributable to redeemable noncontrolling interests.
The accompanying notes are an integral part of these condensed consolidated financial statements.

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Table of Contents

HEALTHCARE TRUST OF AMERICA, INC.
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
(In thousands)
(Unaudited)
 
Three Months Ended June 30,
 
Six Months Ended June 30,
 
2019
 
2018
 
2019
 
2018
 
 
 
 
 
 
 
 
Net income
$
16,598

 
$
15,657

 
$
30,299

 
$
25,673

 
 
 
 
 
 
 
 
Other comprehensive (loss) income
 
 
 
 
 
 
 
Change in unrealized (losses) gains on cash flow hedges
(381
)
 
214

 
(771
)
 
1,114

Total other comprehensive (loss) income
(381
)
 
214

 
(771
)
 
1,114

 
 
 
 
 
 
 
 
Total comprehensive income
16,217

 
15,871

 
29,528

 
26,787

Comprehensive income attributable to noncontrolling interests
(294
)
 
(301
)
 
(519
)
 
(499
)
Total comprehensive income attributable to common stockholders
$
15,923

 
$
15,570

 
$
29,009

 
$
26,288

The accompanying notes are an integral part of these condensed consolidated financial statements.


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Table of Contents

HEALTHCARE TRUST OF AMERICA, INC.
CONDENSED CONSOLIDATED STATEMENTS OF EQUITY
(In thousands)
(Unaudited)
 
Class A Common Stock
 
Additional Paid-In Capital
 
Accumulated Other Comprehensive Income (Loss)
 
Cumulative Dividends in Excess of Earnings
 
Total Stockholders’ Equity
 
Noncontrolling Interests
 
Total Equity
 
Shares
 
Amount
Balance as of December 31, 2017
204,892

 
$
2,049

 
$
4,508,528

 
$
274

 
$
(1,232,069
)
 
$
3,278,782

 
$
84,666

 
$
3,363,448

Share-based award transactions, net
289

 
3

 
3,504

 

 

 
3,507

 

 
3,507

Repurchase and cancellation of common stock
(92
)
 
(1
)
 
(2,708
)
 

 

 
(2,709
)
 

 
(2,709
)
Redemption of noncontrolling interest and other
91

 
1

 
2,412

 

 

 
2,413

 
(2,413
)
 

Dividends declared ($0.305 per common share)

 

 

 

 
(62,559
)
 
(62,559
)
 
(1,307
)
 
(63,866
)
Net income

 

 

 

 
9,802

 
9,802

 
181

 
9,983

Other comprehensive income

 

 

 
883

 

 
883

 
17

 
900

Balance as of March 31, 2018
205,180

 
2,052

 
4,511,736

 
1,157

 
(1,284,826
)
 
3,230,119

 
81,144

 
3,311,263

Issuance of common stock in HTA
2,550

 
25

 
72,789

 

 

 
72,814

 

 
72,814

Share-based award transactions, net
7

 

 
2,196

 

 

 
2,196

 

 
2,196

Repurchase and cancellation of common stock
(337
)
 
(3
)
 
(8,841
)
 

 

 
(8,844
)
 

 
(8,844
)
Redemption of noncontrolling interest and other
93

 
1

 
2,493

 

 

 
2,494

 
(2,494
)
 

Dividends declared ($0.305 per common share)

 

 

 

 
(63,279
)
 
(63,279
)
 
(1,253
)
 
(64,532
)
Net income

 

 

 

 
15,346

 
15,346

 
297

 
15,643

Other comprehensive income

 

 

 
210

 

 
210

 
4

 
214

Balance as of June 30, 2018
207,493

 
$
2,075

 
$
4,580,373

 
$
1,367

 
$
(1,332,759
)
 
$
3,251,056

 
$
77,698

 
$
3,328,754

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Balance as of December 31, 2018
205,267

 
$
2,053

 
$
4,525,969

 
$
307

 
$
(1,272,305
)
 
$
3,256,024

 
$
78,890

 
$
3,334,914

Share-based award transactions, net
293

 
3

 
3,386

 

 

 
3,389

 

 
3,389

Repurchase and cancellation of common stock
(478
)
 
(5
)
 
(11,921
)
 

 

 
(11,926
)
 

 
(11,926
)
Redemption of noncontrolling interest and other
18

 

 
527

 

 

 
527

 
(527
)
 

Dividends declared ($0.310 per common share)

 

 

 

 
(63,578
)
 
(63,578
)
 
(1,306
)
 
(64,884
)
Net income

 

 

 

 
13,440

 
13,440

 
233

 
13,673

Other comprehensive loss

 

 

 
(382
)
 

 
(382
)
 
(8
)
 
(390
)
Balance as of March 31, 2019
205,100

 
2,051

 
4,517,961

 
(75
)
 
(1,322,443
)
 
3,197,494

 
77,282

 
3,274,776

Issuance of operating partnership units in HTALP

 

 

 

 

 

 
2,603

 
2,603

Share-based award transactions, net
(3
)
 

 
2,102

 

 

 
2,102

 

 
2,102

Repurchase and cancellation of common stock
(6
)
 

 
(169
)
 

 

 
(169
)
 

 
(169
)
Redemption of noncontrolling interest and other
27

 

 
1,209

 

 

 
1,209

 
(785
)
 
424

Dividends declared ($0.310 per common share)

 

 

 

 
(63,579
)
 
(63,579
)
 
(1,334
)
 
(64,913
)
Net income

 

 

 

 
16,259

 
16,259

 
301

 
16,560

Other comprehensive loss

 

 

 
(374
)
 

 
(374
)
 
(7
)
 
(381
)
Balance as of June 30, 2019
205,118

 
$
2,051

 
$
4,521,103

 
$
(449
)
 
$
(1,369,763
)
 
$
3,152,942

 
$
78,060

 
$
3,231,002

The accompanying notes are an integral part of these condensed consolidated financial statements.

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Table of Contents

HEALTHCARE TRUST OF AMERICA, INC.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(In thousands)
(Unaudited)
 
Six Months Ended June 30,
 
2019
 
2018
Cash flows from operating activities:
 
 
 
Net income
$
30,299

 
$
25,673

Adjustments to reconcile net income to net cash provided by operating activities:
 
 
 
Depreciation and amortization
132,931

 
135,177

Share-based compensation expense
5,491

 
5,703

Impairment

 
4,606

Income from unconsolidated joint venture
(1,034
)
 
(973
)
Distributions from unconsolidated joint venture
1,335

 
975

Loss on sale of real estate, net
37

 

Changes in operating assets and liabilities:
 
 
 
Receivables and other assets, net
457

 
(2,956
)
Accounts payable and accrued liabilities
(23,262
)
 
(13,254
)
Prepaid rent and other liabilities
2,483

 
1,157

Net cash provided by operating activities
148,737

 
156,108

Cash flows from investing activities:
 
 
 
Investments in real estate
(93,855
)
 
(11,887
)
Development of real estate
(4,627
)
 
(23,861
)
Proceeds from the sale of real estate
1,193

 

Capital expenditures
(37,763
)
 
(34,110
)
Collection of real estate notes receivable
365

 
347

Net cash used in investing activities
(134,687
)
 
(69,511
)
Cash flows from financing activities:
 
 
 
Borrowings on unsecured revolving credit facility
135,000

 
85,000

Payments on unsecured revolving credit facility
(15,000
)
 
(85,000
)
Payments on secured mortgage loans
(96,173
)
 
(99,218
)
Security deposits

 
222

Proceeds from issuance of common stock

 
72,814

Repurchase and cancellation of common stock
(12,095
)
 
(11,553
)
Dividends paid
(127,387
)
 
(125,128
)
Distributions paid to noncontrolling interest of limited partners
(2,781
)
 
(2,689
)
Net cash used in financing activities
(118,436
)
 
(165,552
)
Net change in cash, cash equivalents and restricted cash
(104,386
)
 
(78,955
)
Cash, cash equivalents and restricted cash - beginning of period
133,530

 
118,560

Cash, cash equivalents and restricted cash - end of period
$
29,144

 
$
39,605

The accompanying notes are an integral part of these condensed consolidated financial statements.

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Table of Contents

HEALTHCARE TRUST OF AMERICA HOLDINGS, LP
CONDENSED CONSOLIDATED BALANCE SHEETS
(In thousands, except unit data)
(Unaudited)
 
 
June 30, 2019
 
December 31, 2018
ASSETS
 
 
 
 
Real estate investments:
 
 
 
 
Land
 
$
492,770

 
$
481,871

Building and improvements
 
5,886,129

 
5,787,152

Lease intangibles
 
598,022

 
599,864

Construction in progress
 
8,907

 
4,903

 
 
6,985,828

 
6,873,790

Accumulated depreciation and amortization
 
(1,324,281
)
 
(1,208,169
)
Real estate investments, net
 
5,661,547

 
5,665,621

Investment in unconsolidated joint venture
 
66,731

 
67,172

Cash and cash equivalents
 
23,194

 
126,221

Restricted cash
 
5,950

 
7,309

Receivables and other assets, net
 
225,681

 
223,415

Right-of-use assets, net
 
245,495

 

Other intangibles, net
 
11,877

 
98,738

Total assets
 
$
6,240,475

 
$
6,188,476

LIABILITIES AND PARTNERS’ CAPITAL
 
 
 
 
Liabilities:
 
 
 
 
Debt
 
$
2,567,008

 
$
2,541,232

Accounts payable and accrued liabilities
 
159,853

 
185,073

Security deposits, prepaid rent and other liabilities
 
41,241

 
59,567

Lease liabilities
 
200,842

 

Intangible liabilities, net
 
40,529

 
61,146

Total liabilities
 
3,009,473

 
2,847,018

Commitments and contingencies
 


 


Redeemable noncontrolling interests
 

 
6,544

Partners’ Capital:
 
 
 
 
Limited partners’ capital, 3,974,657 and 3,929,083 units issued and outstanding as of June 30, 2019 and December 31, 2018, respectively
 
77,790

 
78,620

General partners’ capital, 205,117,620 and 205,267,349 units issued and outstanding as of June 30, 2019 and December 31, 2018, respectively
 
3,153,212

 
3,256,294

Total partners’ capital
 
3,231,002

 
3,334,914

Total liabilities and partners’ capital
 
$
6,240,475

 
$
6,188,476

The accompanying notes are an integral part of these condensed consolidated financial statements.


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Table of Contents

HEALTHCARE TRUST OF AMERICA HOLDINGS, LP
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(In thousands, except per unit data)
(Unaudited)
 
Three Months Ended June 30,
 
Six Months Ended June 30,
 
2019
 
2018
 
2019
 
2018
Revenues:
 
 
 
 
 
 
 
Rental income
$
171,609

 
$
173,221

 
$
340,484

 
$
348,788

Interest and other operating income
148

 
111

 
239

 
205

Total revenues
171,757

 
173,332

 
340,723

 
348,993

Expenses:
 
 
 
 
 
 
 
Rental
52,938

 
53,553

 
104,406

 
109,575

General and administrative
10,079

 
8,725

 
21,369

 
17,511

Transaction
296

 
396

 
336

 
587

Depreciation and amortization
68,429

 
69,104

 
137,910

 
139,496

Interest expense
24,006

 
26,305

 
47,976

 
52,558

Impairment

 

 

 
4,606

Total expenses
155,748

 
158,083

 
311,997

 
324,333

Loss on sale of real estate, net

 

 
(37
)
 

Income from unconsolidated joint venture
548

 
403

 
1,034

 
973

Other income
41

 
5

 
576

 
40

Net income
$
16,598

 
$
15,657

 
$
30,299

 
$
25,673

Net income attributable to noncontrolling interests
(38
)
 
(14
)
 
(66
)
 
(47
)
Net income attributable to common unitholders
$
16,560

 
$
15,643

 
$
30,233

 
$
25,626

Earnings per common unit - basic:
 
 
 
 
 
 
 
Net income attributable to common unitholders
$
0.08

 
$
0.07

 
$
0.14

 
$
0.12

Earnings per common unit - diluted:
 
 
 
 
 
 
 
Net income attributable to common unitholders
$
0.08

 
$
0.07

 
$
0.14

 
$
0.12

Weighted average common units outstanding: 
 
 
 
 
 
 
 
Basic
209,005

 
209,259

 
209,002

 
209,218

Diluted
209,005

 
209,259

 
209,002

 
209,218

The accompanying notes are an integral part of these condensed consolidated financial statements.

10


Table of Contents

HEALTHCARE TRUST OF AMERICA HOLDINGS, LP
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
(In thousands)
(Unaudited)
 
Three Months Ended June 30,
 
Six Months Ended June 30,
 
2019
 
2018
 
2019
 
2018
 
 
 
 
 
 
 
 
Net income
$
16,598

 
$
15,657

 
$
30,299

 
$
25,673

 
 
 
 
 
 
 
 
Other comprehensive (loss) income
 
 
 
 
 
 
 
Change in unrealized (losses) gains on cash flow hedges
(381
)
 
214

 
(771
)
 
1,114

Total other comprehensive (loss) income
(381
)
 
214

 
(771
)
 
1,114

 
 
 
 
 
 
 
 
Total comprehensive income
16,217

 
15,871

 
29,528

 
26,787

Comprehensive income attributable to noncontrolling interests
(38
)
 
(14
)
 
(66
)
 
(47
)
Total comprehensive income attributable to common unitholders
$
16,179

 
$
15,857

 
$
29,462

 
$
26,740

The accompanying notes are an integral part of these condensed consolidated financial statements.


11


Table of Contents

HEALTHCARE TRUST OF AMERICA HOLDINGS, LP
CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN PARTNERS CAPITAL
(In thousands)
(Unaudited)
 
General Partners’ Capital
 
Limited Partners’ Capital
 
Total Partners’ Capital
 
Units
 
Amount
 
Units
 
Amount
 
Balance as of December 31, 2017
204,892

 
$
3,279,052

 
4,124

 
$
84,396

 
$
3,363,448

Share-based award transactions, net
289

 
3,507

 

 

 
3,507

Redemption and cancellation of general partner units
(92
)
 
(2,709
)
 

 

 
(2,709
)
Redemption of limited partner units and other
91

 
2,413

 
(91
)
 
(2,413
)
 

Distributions declared ($0.305 per common unit)

 
(62,559
)
 

 
(1,307
)
 
(63,866
)
Net income

 
9,802

 

 
181

 
9,983

Other comprehensive income

 
883

 

 
17

 
900

Balance as of March 31, 2018
205,180

 
3,230,389

 
4,033

 
80,874

 
3,311,263

Issuance of general partner units, net
2,550

 
72,814

 

 

 
72,814

Share-based award transactions, net
7

 
2,196

 

 

 
2,196

Redemption and cancellation of general partner units
(337
)
 
(8,844
)
 

 

 
(8,844
)
Redemption of limited partner units and other
93

 
2,494

 
(93
)
 
(2,494
)
 

Distributions declared ($0.305 per common unit)

 
(63,279
)
 

 
(1,253
)
 
(64,532
)
Net income

 
15,346